RCS - Seraphim Space Inv - Update from QuotedData

Seraphim Space Investment TrustAnnouncement

02/06/2025 18:30

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RNS Number : 0960L  Seraphim Space Investment Trust  02 June 2025

Seraphim Space Investment Trust - Update from QuotedData

2(nd) June 2025

SpaceTech - the critical frontier in modern defence

Seraphim Space Investment Trust (SSIT) provides investors with focused
exposure to the commercial space sector - one that is increasingly intertwined
with defence. Around 78% of the trust's portfolio has applications in
defence, and key holdings such as ICEYE and ALL.SPACE are already embedded in
the operational infrastructure of European and US militaries. Despite the
potential of that strategic positioning, and a 130.4% uplift in the value of
its private investments since launch, the trust continues to trade on a steep
47% discount (https://quoteddata.com/glossary/discount-to-nav/)  to net
asset value (NAV) (https://quoteddata.com/glossary/nav/) .

This valuation disconnect may not persist. Rising geopolitical tensions and
renewed commitment to military spending - exemplified by the EU's €800bn
ReArm initiative and the UK's increasing defence budget - are driving
structural demand for space-enabled defence capabilities. Many of SSIT's
portfolio companies are already demonstrating strong financial resilience,
with healthy cash runways (i.e. the amount of time a company can operate
before needing to raise more capital) and growing commercial traction. As
defence spending continues to rise and macro headwinds such as interest
rates (https://quoteddata.com/glossary/interest-rate/)  begin to ease, a
re-rating of SSIT's holdings closer to those of their peers in the broader
aerospace and defence sector would be justified in our view.

Full Research:

https://quoteddata.com/research/seraphim-space-investment-trust-spacetech-the-critical-frontier-in-modern-defence-qd/
(https://quoteddata.com/research/seraphim-space-investment-trust-spacetech-the-critical-frontier-in-modern-defence-qd/)

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NB: Marten & Co was paid to produce this note Seraphim Space Investment
Trust Plc, and it is for information purposes only. It is not intended to
encourage the reader to deal in the security or securities mentioned in this
report. Please read the important information at the back of this note.
QuotedData is a trading name of Marten & Co Limited which is authorised
and regulated by the Financial Conduct Authority. Marten & Co is not
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